Saturday 10 November 2012

UAE frees hundreds of Emirati debtors from jail-WAM news agency | Reuters

The United Arab Emirates has released from prison around 290 people convicted of bouncing cheques, the state news agency said on Saturday, the latest step by one of the world's richest countries to help its citizens deal with their debts.

The drive to help debtors underlines moves by the government to expand its support to the population, as the UAE and other countries across the region boost welfare spending in the wake of last year's Arab Spring uprisings in the Middle East.

Signing cheques without sufficient funds to back them is a criminal offence under UAE law and the order to release citizens who had defaulted on cheque payments was given last month by President Sheikh Khalifa bin Zayed al-Nahayan.

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